Venable Law Firm has decided to move away from the established lockstep compensation structure, adopting a 'black box' approach that limits transparency regarding associate salaries. Unlike the predictable raises based on seniority that are standard in Biglaw, associates at Venable will now receive individualized pay decisions, shrouded in secrecy. This shift comes amid reports of stagnant salaries since 2021 and suggests a broader industry trend toward less clarity for employees about their compensation, raising concerns about equity and fairness in pay practices.
Venable's departure from the lockstep compensation system towards a 'black box' model embodies a trend in Biglaw where transparency in associate pay is increasingly undermined.
With its recent shift to a black box compensation model, Venable joins a growing list of firms opting for more secretive pay structures, leaving associates uncertain.
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